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SXSW Panel: Finance 2.0: Money Management to Save this Generation
Panel title: Finance 2.0: Money Management to Save this Generation
Date and time: Monday at 10 a.m.
PanelistsNichelle Stephens, Founder of Keeping Nickels; Michael Ferrari, President/ Co-Founder of SmartyPig; Aaron Patzer, CEO/Founder of Mint.com; Murali Subbarao, Pres/CEO of Billeo Inc.; Stessa Cohen, Gartner Inc
The gist: Online money management tools offer users options and ways to save money that the bulk of national banking companies don’t. Because sites like Mint.com and Billeo.com aren’t directly affiliated with one bank they can pattern users’ behaviors and offer suggestions discounts and better management behavior. And the lack of personalized features on large bank Web sites doesn’t invite people to visit frequently, which makes it harder to stay on top of cash flow.
Quotes: “You can’t monitor what’s going on with your money if you don’t look at it regularly. But people have problems with doing things they feel is drastic when it comes to working with their money, so this is some new ground we’re working on. We have to get to the people who have so far just used Excel or Quickbooks.” — Nichelle Stephens
Takeaways: Especially in a recession, the importance of keeping track of money and making the most of it can’t be overstated. Taken together Mint, Billeo and Smartpig offer three interlinked but unique services to help users get a handle on their financial situation and start being active in the effect money has on their lives.
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